Money or Wealth

• Creating wealth means a lot of expenses initially, and is a risky proposition.
• A decent number of startups go bust, with the founders going bankrupt. They would have earned more just doing consulting or freelance work, but they chose to ‘burn’ money instead, with a ‘long shot’ hope to create tons of wealth in the coming years.
• Working full time as a founder of a company is like being over-indexed in just one asset, exposed to a significant downside, with a low probability of an upside.

The secret sauce to create wealth while keeping your boat afloat is to balance the two forces at play, the force of wealth creation and the force of money or income generation.

• A side hustle is when you continue to earn money, putting food on the table, and from your savings and the free time you have, build something that can have some value much beyond the time and money it took to build. Example: You can use your late evenings and weekends writing a book or a manual on what interests you, and what you are passionate about, even if it is just a recipe book.
• Another way is to devote 70 to 80 percent of your time in your side hustle(now your main work project) while leaving aside some time in a week to work for money to cover your basic expenses, probably some freelance gig work, giving you a safety net. The day job is then your passion project, which will (hopefully) create wealth in the long run.

Another way is to devote 70 to 80 percent of your time in your side hustle(now your main work project) while leaving aside some time in a week to work for money to cover your basic expenses, probably some freelance gig work, giving you a safety net.

The day job is then your passion project, which will(hopefully) create wealth in the long run.